Financial confidence in retirement - as in other stages of life - can be dramatically improved by having real clarity about your financial circumstances, needs and capacity.
Expenses, lifestyle spending, returns on investments / KiwiSaver, income from assets like property - these and other factors may be part of your retirement nest egg and financial picture. The key is to be comfortable in your knowledge of the various facets of your financial life in retirement, and how they are working for your needs.
And of course, confidence and clarity starts with having a sound and detailed retirement plan in place. If we can help you, feel free to get in touch.
Whether you are just retired or have been enjoying your post-work life for some time, it's important to have confidence in your retirement finances. Read on for a few (not exhaustive) things to consider:
While creating an income for retirement was the focus leading up to the day you said farewell to work, making your nest egg last throughout the years becomes a key focus in your post-work life. It’s a balance between providing the income you need now and safeguarding (and even growing where possible) your capital to continue to deliver income overtime.
Retirement - that time of life when many look to realise big plans, like travel and other adventures or endeavours. For big-ticket expenditure, it’s important to plan early and carefully consider how you can best budget for maximise enjoyment, as well as safeguarding your ongoing financial needs.
Many parents make the decision to help their kids onto the property ladder or with other goals that need some financial assistance. While this is a wonderful thing to be able to do, it is vitally important that these acts of support and generosity don’t negatively impact your financial circumstances in retirement. These are sensitive and important decisions, and often can benefit from external guidance - so that everyone’s expectations are well understood and your needs are protected.